SECTION Atiple-stcp gle statement .omprehensive LOI LOB L07 .lultiplestep statement LOS DiscontinuEd e LOS Incorne presentation , discont inucd orrralions. The Role of Accounting as an Information System balance for Lindor corporation. manufacturing company. for (he year December 31. 2013. included the following income accounts: Account Title Sales revenue Gain on "tigation settlemont Cost of goods sold Selling and .dministrative expenses Credits Debits 1,400.000 420.000 40,000 80.000 Interest expense Unrealized gains on available-for-sale investment securities trial balance not include the accrual for income taxes, Lindor's income tax rate is 20%- one million ordinan shares were outstanding throughout 2013. Prepare single. continuous multiple-step statement of comprehensive income for 2013. including appropnate EPS disclosurev The following Income statement was prepared by thc accountant of the Axel Corporation: AXEL CORPORATION Income Statement For the Year Ended December 31, 2013 Revenues and gains; Sales Interest and dividends Gain from litigation settlement Total revenues and gains Expenses and losses: Cost of goods sold Selling egpenses Administrative expenses Interest Restructuring costs Income taxes Total expens and Lasses Net Income Earnings per share Required: S592.ooo 32.000 gs.ooo 710.000 S325.ooo 67.000 87.000 26,000 s s. OOO 30,000 590.000 5120.000 Prepare a multiple-step income statement iot 2013, The income tux rate is 20%U Chance Company had two operating divisions, one manufacturing farm equipment and the otiu:r office supplie Both divisions are considered separate components as defined by Ille farm equipment component had unprotirablc. and on September I , 2018, the company adopted a plan to sell the assets ot the divtston- Thc actual sale was effected on Decemt.xr 15. 2013. at a price of The txok value of the divisions assets was SI .000,000. resulting in a trfore.tnx loss of on the 'le. division incurred a belote-tax loss from operations or S from the beginning of the year through December IS. The in-cour tax rate ts 20%_ Chance's after-tax income from its continuing 01*rutions is syso.wx. Required: Prcparc an income statement for 201 A beginning with income from continuing OFrutions. Inclu'k amyopriatc EPS disclosures assuming that shares were outstanding throughout the year Esquire Comic Book Company had income before tax of in 2013 before considering the following items: l, Esquire sold one 01 its divisions. which qualified as u separate component according to IFRS, The before-tax loss on disposal was The division generated before-tax income itom ocxrations the beginning oi thc year through disposal oi SS00.(XWb Neither the loss on disposal income from restructuring ogrnuons i' included in the before-tax income the company generated from its divisions 2. The company incurred restructuring costs or during lhe year. L03 L04 SECTION Atiple-stcp gle statement .omprehensive LOI LOB L07 .lultiplestep statement LOS DiscontinuEd e LOS Incorne presentation , discont inucd orrralions. The Role of Accounting as an Information System balance for Lindor corporation. manufacturing company. for (he year December 31. 2013. included the following income accounts: Account Title Sales revenue Gain on "tigation settlemont Cost of goods sold Selling and .dministrative expenses Credits Debits 1,400.000 420.000 40,000 80.000 Interest expense Unrealized gains on available-for-sale investment securities trial balance not include the accrual for income taxes, Lindor's income tax rate is 20%- one million ordinan shares were outstanding throughout 2013. Prepare single. continuous multiple-step statement of comprehensive income for 2013. including appropnate EPS disclosurev The following Income statement was prepared by thc accountant of the Axel Corporation: AXEL CORPORATION Income Statement For the Year Ended December 31, 2013 Revenues and gains; Sales Interest and dividends Gain from litigation settlement Total revenues and gains Expenses and losses: Cost of goods sold Selling egpenses Administrative expenses Interest Restructuring costs Income taxes Total expens and Lasses Net Income Earnings per share Required: S592.ooo 32.000 gs.ooo 710.000 S325.ooo 67.000 87.000 26,000 s s. OOO 30,000 590.000 5120.000 Prepare a multiple-step income statement iot 2013, The income tux rate is 20%U Chance Company had two operating divisions, one manufacturing farm equipment and the otiu:r office supplie Both divisions are considered separate components as defined by Ille farm equipment component had unprotirablc. and on September I , 2018, the company adopted a plan to sell the assets ot the divtston- Thc actual sale was effected on Decemt.xr 15. 2013. at a price of The txok value of the divisions assets was SI .000,000. resulting in a trfore.tnx loss of on the 'le. division incurred a belote-tax loss from operations or S from the beginning of the year through December IS. The in-cour tax rate ts 20%_ Chance's after-tax income from its continuing 01*rutions is syso.wx. Required: Prcparc an income statement for 201 A beginning with income from continuing OFrutions. Inclu'k amyopriatc EPS disclosures assuming that shares were outstanding throughout the year Esquire Comic Book Company had income before tax of in 2013 before considering the following items: l, Esquire sold one 01 its divisions. which qualified as u separate component according to IFRS, The before-tax loss on disposal was The division generated before-tax income itom ocxrations the beginning oi thc year through disposal oi SS00.(XWb Neither the loss on disposal income from restructuring ogrnuons i' included in the before-tax income the company generated from its divisions 2. The company incurred restructuring costs or during lhe year. L03 L04